793 Shares in Watsco, Inc. (NYSE:WSO) Bought by Enhancing Capital LLC

Enhancing Capital LLC purchased a new position in Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 793 shares of the construction company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WSO. Metis Global Partners LLC bought a new stake in shares of Watsco in the third quarter worth $212,000. CIBC Asset Management Inc increased its stake in shares of Watsco by 4.4% in the third quarter. CIBC Asset Management Inc now owns 2,083 shares of the construction company’s stock worth $1,025,000 after buying an additional 87 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Watsco by 4.2% in the third quarter. Empowered Funds LLC now owns 5,031 shares of the construction company’s stock worth $2,475,000 after buying an additional 201 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Watsco by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 39,894 shares of the construction company’s stock worth $19,623,000 after buying an additional 215 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Watsco by 2.7% in the third quarter. Swiss National Bank now owns 103,144 shares of the construction company’s stock worth $50,734,000 after buying an additional 2,700 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WSO. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital boosted their target price on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Finally, Robert W. Baird boosted their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $486.25.

Watsco Stock Performance

Watsco stock opened at $508.71 on Wednesday. The company has a 50-day simple moving average of $491.26 and a 200-day simple moving average of $495.86. The firm has a market capitalization of $20.55 billion, a P/E ratio of 38.39 and a beta of 0.92. Watsco, Inc. has a one year low of $396.82 and a one year high of $571.42.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.